A DEGREE OF SELF-INSURANCE

How you can reduce your premium outgo with certain types of insurance policies by opting to pay a portion of your claim

- Narayan Krishnamurthy

We all love to save money in our own ways, especially when it comes to choosing financial products and services. For instance, when it comes to insurance, some people buy a smaller cover than what they need to save money. Likewise, some people end up buying a policy that may not fully cover the kind of risk they need covered. To overcome this dilemma, insurance, especially general insurance, which includes policies that cover healthcare, property or automobiles, have a provision of a 'deductible'.